Desay SV Automotive Launches Hong Kong IPO to Pursue 'A+H' Listing

[Capital Update] Automotive electronics leader Desay SV Automotive has officially launched its Hong Kong IPO, aiming to achieve a dual 'A+H' listing.

Core Developments: Market Leader in Both Smart Cockpit and Intelligent Driving Segments

Desay SV Automotive ranks first in China's market for both smart cockpit systems and intelligent driving domain controllers. In 2025, its smart cockpit business generated revenue of RMB 20.585 billion, accounting for 63.23% of total revenue, while its intelligent driving business reported revenue of RMB 9.7 billion, an increase of 32.63% year-over-year.

Key Metrics: 21.9% CAGR Over Three Years, Orders Exceed RMB 33 Billion

From 2023 to 2025, the company’s revenue grew from RMB 21.9 billion to RMB 32.6 billion, and net profit rose from RMB 1.54 billion to RMB 2.47 billion. Annualized sales value of new project orders exceeded RMB 33 billion, with clients covering the world’s top 15 automakers.

Strategic Foundation: Breaking Through Growth Ceiling and Accelerating Global Expansion

Facing near-saturation in the domestic market, Desay SV Automotive is leveraging the Hong Kong listing platform to advance its internationalization strategy, strengthen full-stack technology exports, expand relationships with premium overseas customers, and build a second growth curve.